Cheyenne
Ms. Smarty Pantsless
- Joined
- Apr 18, 2000
- Posts
- 59,553
My first ever poll, if it works. If not, my question is if you think Baxter was a suicide or murder?
Former Enron Executive Apparently Commits Suicide
By C. Bryson Hull
HOUSTON (Reuters) - A former top Enron Corp. executive who railed against the murky transactions that ultimately ruined the energy giant and whose knowledge was sought by congressional investigators apparently shot himself to death on Friday, Texas police said.
J. Clifford Baxter, 43, was found with a single gunshot wound to the head early on Friday in Sugar Land, a suburb southwest of Houston, police there said.
Baxter was seated inside his Mercedes Benz with a suicide note and revolver at his side, police spokeswoman Patricia Whitty said. There were no apparent signs of foul play and he had Enron identification in his wallet, she said. The car was parked in a turn lane between two medians near his affluent neighborhood.
``We feel that it is a suicide, but we are taking all precautions that are necessary,'' Sgt. Truman Body said. He declined to divulge the contents of the note, saying that the investigation was still open. An autopsy was underway on Friday.
Congressional investigators had sought to interview Baxter last week while they were in Houston talking to others about Enron, congressional committee sources told Reuters on Friday.
``We did not seek testimony from him yet. His name was brought up numerous times during investigators' meetings,'' with other interviewees, a congressional source said. But investigators made it known to his lawyer that they wanted to interview him, they said.
Baxter's Washington attorney, Michael Levy, declined comment.
ABC News, citing two company sources, reported that Baxter was depressed and concerned about being questioned about the activities of his former colleagues and friends. The network, quoting law enforcement sources, reported the suicide note said he could not stand the pain of the Enron scandal.
Baxter resigned in May, ostensibly to spend more time with his family, but had expressed his concerns about Enron's dealings before then.
TOOK EARLY STAND AGAINST DEALS
He had reportedly feuded with then-chief executive officer Jeffrey Skilling over the propriety of off-balance sheet transactions that hid billions in debt and triggered the once-mighty Houston company's spiral into the largest bankruptcy in U.S. history.
``Cliff Baxter complained mightily to Skilling and all who would listen about the inappropriateness of our transactions with LJM,'' Enron whistle-blower Sherron Watkins wrote to Chairman and CEO Ken Lay, who resigned on Wednesday, in an Aug. 14 letter.
His complaints targeted the LJM and LJM2 investment partnerships managed by then-chief financial officer Andrew Fastow, who earned $30 million for that work plus his Enron salary. The U.S. Securities and Exchange Commission is
investigating, and Enron's collapse is the focus of a Justice Department criminal inquiry and nine congressional probes.
Fastow declined to comment through a representative. A Skilling spokeswoman said he ``was devastated by the loss of very dear friend.'' He would have no other comment, she said.
Enron said it was ``deeply saddened by the tragic loss of our friend and colleague, Cliff Baxter. Our thoughts and prayers go out to his family and friends.'' He is survived by a wife and two children, the company said.
``We are suffering a loss of our beloved husband, father and friend and respectfully wish not to be disturbed at this time,'' Baxter's family said in a statement. ``The funeral services will be private and will be open only to family and close friends.''
TARGETED IN LAWSUIT
Baxter was one of 29 of Enron's top directors and insiders targeted in a lawsuit accusing them of cashing in on inside information at the expense of stockholders. According to court records, Baxter earned some $35.2 million by exercising Enron stock options between 1998 and 2001.
His role at Enron, people familiar with his career there say, was primarily in mergers and acquisitions. He helped engineer the purchases to build up Enron's failed water venture, Azurix Corp., and of Oregon utility Portland General Electric in 1997.
A native of Amityville, New York, he joined Enron in 1991 after a career as an investment banker and serving as a U.S. Air Force captain, from 1980-85. He earned his bachelor's degree from New York University in 1980 and his MBA from Columbia University in 1987, where he was valedictorian of his class.
He was named chairman and CEO of Enron North America, the then-powerful trading division, before being named chief strategy officer and then vice chairman in October 2000. He was not, despite the title, second-in-command. That role fell to Skilling, who assumed CEO duties from Lay in February 2001, before resigning unexpectedly six months later.
His suicide is not the first in the wake of a corporate scandal. Publisher Robert Maxwell threw himself from his yacht and drowned in the Atlantic after revelations of massive financial fraud in his crumbling empire.
A geologist who worked for Canadian miner Bre-X Minerals fell to his death from a helicopter over an Indonesian jungle weeks before it became public that the company's touted gold play was a fraud, costing investors $4 billion.
Former Enron Executive Apparently Commits Suicide
By C. Bryson Hull
HOUSTON (Reuters) - A former top Enron Corp. executive who railed against the murky transactions that ultimately ruined the energy giant and whose knowledge was sought by congressional investigators apparently shot himself to death on Friday, Texas police said.
J. Clifford Baxter, 43, was found with a single gunshot wound to the head early on Friday in Sugar Land, a suburb southwest of Houston, police there said.
Baxter was seated inside his Mercedes Benz with a suicide note and revolver at his side, police spokeswoman Patricia Whitty said. There were no apparent signs of foul play and he had Enron identification in his wallet, she said. The car was parked in a turn lane between two medians near his affluent neighborhood.
``We feel that it is a suicide, but we are taking all precautions that are necessary,'' Sgt. Truman Body said. He declined to divulge the contents of the note, saying that the investigation was still open. An autopsy was underway on Friday.
Congressional investigators had sought to interview Baxter last week while they were in Houston talking to others about Enron, congressional committee sources told Reuters on Friday.
``We did not seek testimony from him yet. His name was brought up numerous times during investigators' meetings,'' with other interviewees, a congressional source said. But investigators made it known to his lawyer that they wanted to interview him, they said.
Baxter's Washington attorney, Michael Levy, declined comment.
ABC News, citing two company sources, reported that Baxter was depressed and concerned about being questioned about the activities of his former colleagues and friends. The network, quoting law enforcement sources, reported the suicide note said he could not stand the pain of the Enron scandal.
Baxter resigned in May, ostensibly to spend more time with his family, but had expressed his concerns about Enron's dealings before then.
TOOK EARLY STAND AGAINST DEALS
He had reportedly feuded with then-chief executive officer Jeffrey Skilling over the propriety of off-balance sheet transactions that hid billions in debt and triggered the once-mighty Houston company's spiral into the largest bankruptcy in U.S. history.
``Cliff Baxter complained mightily to Skilling and all who would listen about the inappropriateness of our transactions with LJM,'' Enron whistle-blower Sherron Watkins wrote to Chairman and CEO Ken Lay, who resigned on Wednesday, in an Aug. 14 letter.
His complaints targeted the LJM and LJM2 investment partnerships managed by then-chief financial officer Andrew Fastow, who earned $30 million for that work plus his Enron salary. The U.S. Securities and Exchange Commission is
investigating, and Enron's collapse is the focus of a Justice Department criminal inquiry and nine congressional probes.
Fastow declined to comment through a representative. A Skilling spokeswoman said he ``was devastated by the loss of very dear friend.'' He would have no other comment, she said.
Enron said it was ``deeply saddened by the tragic loss of our friend and colleague, Cliff Baxter. Our thoughts and prayers go out to his family and friends.'' He is survived by a wife and two children, the company said.
``We are suffering a loss of our beloved husband, father and friend and respectfully wish not to be disturbed at this time,'' Baxter's family said in a statement. ``The funeral services will be private and will be open only to family and close friends.''
TARGETED IN LAWSUIT
Baxter was one of 29 of Enron's top directors and insiders targeted in a lawsuit accusing them of cashing in on inside information at the expense of stockholders. According to court records, Baxter earned some $35.2 million by exercising Enron stock options between 1998 and 2001.
His role at Enron, people familiar with his career there say, was primarily in mergers and acquisitions. He helped engineer the purchases to build up Enron's failed water venture, Azurix Corp., and of Oregon utility Portland General Electric in 1997.
A native of Amityville, New York, he joined Enron in 1991 after a career as an investment banker and serving as a U.S. Air Force captain, from 1980-85. He earned his bachelor's degree from New York University in 1980 and his MBA from Columbia University in 1987, where he was valedictorian of his class.
He was named chairman and CEO of Enron North America, the then-powerful trading division, before being named chief strategy officer and then vice chairman in October 2000. He was not, despite the title, second-in-command. That role fell to Skilling, who assumed CEO duties from Lay in February 2001, before resigning unexpectedly six months later.
His suicide is not the first in the wake of a corporate scandal. Publisher Robert Maxwell threw himself from his yacht and drowned in the Atlantic after revelations of massive financial fraud in his crumbling empire.
A geologist who worked for Canadian miner Bre-X Minerals fell to his death from a helicopter over an Indonesian jungle weeks before it became public that the company's touted gold play was a fraud, costing investors $4 billion.
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